One of the unfortunate outcomes of the COVID-19 pandemic is the economic stress. Such stress has raised concerns about many entities' abilities to continue as a going concern, which has significant accounting, disclosure, and reporting implications.
This course will review the relevant considerations related to going concern, including when substantial doubt concerning an entity's ability to continue as a going concern exists, management mitigation efforts, and required disclosures both when management, and the accountant, feel such efforts will be effective in mitigating the risk, as well as when they do not. Lastly, we'll consider the accountant's reporting responsibilities under various scopes of services in various scenarios.
Accounting and auditing practitioners assisting in the preparation of financial statements